A world currency would do what to the global economy or the free markets of capitalism?
What if there was just one universal dollar, accepted by all major economic markets. What are some negative impacts or positive feedback?
This is a bad idea..a very bad idea. We have the example of Bretton Woods in 1944 when everything was tied to gold and the dollar and latterly the Eurozone where there are casualties from the weaker economies. The trouble with one currency markets which are populated by countries of different cultures, work ethics and resources, strong economies grow at the expense of the weaker economies and furthermore given different work ethics competiveness is not equal in all countries.
It worked well in EU because all economies there, are matured and equally strong.Developing nations with poor economies and lacking modern infrastructure are not able to reap benefit.
World currency will do faster transactions and deals but efficient economic systems with developed nations, they will dictate.
Nobel winner US economist MR. Joseph Stieglitz said, such romantic ideas can not bring prosperity, nations on equal economic strength will gain but
poor economies can not.
In India we are struggling with Globalization and experienced crisis while getting accustomed with.
Euro has lost its glory and UK is not willing to accept EURO.Why?
National interests of any nation are more important than anything.
by tony07248 years ago
They want to propose this at the United Nations per the Drudge Report
by telltale5 years ago
Is a common world currency be a good idea, so that we can avoid having currency fluctuation?
by Grace Marguerite Williams4 years ago
believe would have made a more efficient president? Why?
by IRSHAD CV13 months ago
Do you think 21st century will be the century of capitalism ?
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